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  #61  
Old 09-18-2018, 04:12 PM
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OK? How is this relevant then. Good for you for landing a goldmine tho
Good for me? Who said I'm making good money? lol
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  #62  
Old 09-18-2018, 04:39 PM
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P&C
Are these k&r policies for insurance employees? Are they going to Somalia or something?
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  #63  
Old 09-18-2018, 04:59 PM
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Are these k&r policies for insurance employees? Are they going to Somalia or something?
For execs mainly. I would be surprised if your company didin't have it for your executives.
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  #64  
Old 09-18-2018, 05:01 PM
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Originally Posted by ronaldy27 View Post
For execs mainly. I would be surprised if your company didin't have it for your executives.
Not normal for companies if execs aren't going to third-world countries IME. I think that was his point.
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  #65  
Old 09-18-2018, 05:37 PM
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Seems like the thread has diverted towards discussion on target.

What do you guys think about the base pay number? Do you think 250k for actuarial VPs is too high in a low COL area? I've heard more like 150-160k but it may simply be a low data points issue.
The numbers you quote sound reasonable to me. $160K base for a VP sounds really low, unless everyone and his uncle are VPs at the shop. I think a 30% target bonus is in the ballpark of what our VPs get. And I've seen what Tom said -- actuarial salaries are way flatter than COL. This has been a problem for me because I've tried to hire actuaries into a high COL location, and I've had them argue about how they need at least X to break even and all I could say was, "we don't pay that much for this position".
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When you say "others", do you mean like doctors, investment bankers etc.? If so, then if a doctor or IB is working 80 hours (very common) and making 500k, that's worse than a VP actuary working 40 hours (common) and making 260k.
On the other hand, I expect a VP to work a hell of a lot more than 40 hours a week, even if he's an actuary.

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... certainly salespeople are often on a "eat what you kill" (is that a sexist phrase?) model...
Nope. Why would that be sexist? I'm sure saleswomen eat what they kill, too.
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  #66  
Old 09-18-2018, 05:45 PM
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unless everyone and his uncle are VPs at the shop
nepotism!
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  #67  
Old 09-18-2018, 06:22 PM
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Yea, some of the pay seems insane. I know of a credentialed actuary - last year, about $1 million, under 40 yo, large company. I have no idea what his role is, but it's gotta be some exec level thing, right?
Well this VP is my manager's boss but I sort of report to him directly with some projects. His pay is justified because he has so many guys reporting under him.
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Old 09-18-2018, 06:24 PM
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The "Nebraska Report" has some detail on insurance executive compensation at the top levels if you want to see how high insurance pay can get. http://www.josephmbelth.com/2016/06/...sation-in.html

I know there are some people with actuarial credentials on this list, obviously way above VP level.
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  #69  
Old 09-18-2018, 06:29 PM
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Yeah those numbers seem right.
Don't set DW simpson salary survey as your limit imo.

Make it to senior management for those 7 figures imo.
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Old 09-18-2018, 06:36 PM
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The "Nebraska Report" has some detail on insurance executive compensation at the top levels if you want to see how high insurance pay can get. http://www.josephmbelth.com/2016/06/...sation-in.html

I know there are some people with actuarial credentials on this list, obviously way above VP level.
Dang. Well now that $1 million seems like nothing.
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